Tech Mahindra through its wholly owned subsidiary viz., Tech Mahindra GmbH approved the proposal to acquire 100% equity shares in Beris
consulting GmbH (Beris) for a cash consideration of EUR 7 million.
The company is headquartered in Wolfsburg Germany. The company has about 125+ employees. For the financial year ending 31 December, 2020, the company delivered revenues of EUR 10.1 million.
The acquisition will help Tech Mahindra unlock the transformational growth in the IT and application space for the automotive industry as a result of EV, Sharing & Mobility. Enable Tech Mahindra to expand its presence, local expertise and client relationships in the German market targeting the CX-Aftermarket business areas for IT applications digitization.
The transaction is expected to close by 08 October 2021.
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